https://www.profitconfidential.com/ipo/fitbit-ipo/fitbit-ipo-fitness-tracker-maker-raising-358-million/
Fitbit IPO: Fitness Tracker Maker Raising $358 Million
Jing Pan, B.Sc, MA
Profit Confidential
2015-06-03T12:32:17Z
2017-07-21 06:30:58 Fitbit filed an IPO and is planning to issue 22.4 million shares priced between $14.00 and $16.00 a share; this would raise $358 million in this offering.
Fitbit IPO
https://www.profitconfidential.com/wp-content/uploads/2015/06/Fitbit-IPO.jpg On Tuesday June 2, Fitbit Inc. submitted a regulatory filing to the Securities and Exchange Commission (SEC) about its initial public offering (IPO). (Source: Securities and Exchange Commission, June 2, 2015.)
Fitbit is a company known for its wearable products that track people’s fitness activity. These fitness trackers are wireless enabled and can measure the number of steps walked, sleep quality, heart rate, amount of calories burned, and other personal metrics. The company is headquartered in San Francisco, California.
Also Read:Fitbit IPO: 5 Reasons Warren Buffett Wouldn’t Invest in It

IPO Share Price Up

The company plans to issue 22.4 million shares priced between $14.00 and $16.00 a share; this would raise $358 million in this offering. Adding the 7.5 million shares that existing stockholders are expected to sell, the total value of the IPO is around $448 million.
Fitbit’s filing to the SEC showed that the company plans to trade on the New York Stock Exchange (NSYE) under the ticker symbol “FIT.”
Fitbit did not have definitive plans as to how it would use the funds raised from the IPO. The company said the money could be used for furthering research and development or for acquisitions.
Wearable technology is becoming popular nowadays, with fitness trackers getting a solid following. Since 2007, Fitbit has sold around 20.5 million fitness tracking devices, with more than half of that sold last year alone. It claims that it has the leading position in the U.S. market.
The company also has solid growth in its financials. Last year, revenue was $745.4 million, nearly triple the previous year’s figure. Profit was at a solid $131.8 million.
There is competition in the marketplace. Apple Inc. (NASDAQ/AAPL) recently launched the Apple Watch, which could also work as a fitness device; Apple’s iOS operating system comes with a fitness-tracking app called “Health.” Microsoft Corporation (NASDAQ/MSFT) is also entering the game with its version of a fitness tracker—“Microsoft Band.”
Also Read:

Fitbit IPO: Fitness Tracker Maker Raising $358 Million

By Jing Pan, B.Sc, MA Published : June 3, 2015

On Tuesday June 2, Fitbit Inc. submitted a regulatory filing to the Securities and Exchange Commission (SEC) about its initial public offering (IPO). (Source: Securities and Exchange Commission, June 2, 2015.)

Fitbit is a company known for its wearable products that track people’s fitness activity. These fitness trackers are wireless enabled and can measure the number of steps walked, sleep quality, heart rate, amount of calories burned, and other personal metrics. The company is headquartered in San Francisco, California.

IPO Share Price Up

The company plans to issue 22.4 million shares priced between $14.00 and $16.00 a share; this would raise $358 million in this offering. Adding the 7.5 million shares that existing stockholders are expected to sell, the total value of the IPO is around $448 million.

Fitbit’s filing to the SEC showed that the company plans to trade on the New York Stock Exchange (NSYE) under the ticker symbol “FIT.”

Fitbit did not have definitive plans as to how it would use the funds raised from the IPO. The company said the money could be used for furthering research and development or for acquisitions.

Wearable technology is becoming popular nowadays, with fitness trackers getting a solid following. Since 2007, Fitbit has sold around 20.5 million fitness tracking devices, with more than half of that sold last year alone. It claims that it has the leading position in the U.S. market.

The company also has solid growth in its financials. Last year, revenue was $745.4 million, nearly triple the previous year’s figure. Profit was at a solid $131.8 million.

There is competition in the marketplace. Apple Inc. (NASDAQ/AAPL) recently launched the Apple Watch, which could also work as a fitness device; Apple’s iOS operating system comes with a fitness-tracking app called “Health.” Microsoft Corporation (NASDAQ/MSFT) is also entering the game with its version of a fitness tracker—“Microsoft Band.”

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